About this Show

Your World With Neil Cavuto

News/Business. Money tips from Wall Street. New. (CC)

NETWORK

DURATION
01:00:00

RATING

SCANNED IN
San Francisco, CA, USA

SOURCE
Comcast Cable

TUNER
Virtual Ch. 760 (FOX NEWS HD)

VIDEO CODEC
mpeg2video

AUDIO CODEC
ac3

PIXEL WIDTH
1280

PIXEL HEIGHT
720

TOPIC FREQUENCY

Us 8, Obama Administration 5, Neil 5, Faa 3, Allstate 3, America 3, New York 3, U.s. 3, T. Rowe 2, Legalzoom 2, Apollo 2, Dick Cheney 2, Jimmy Lovell 2, Brooklyn 2, Eu 2, Cyprus 2, Illinois 2, Lunesta 2, Rudy Giuliani 2, Obamacare 2,
Borrow a DVD
of this show
  FOX News    Your World With Neil Cavuto    News/Business. Money tips  
   from Wall Street. New. (CC)  

    March 22, 2013
    1:00 - 2:00pm PDT  

1:00pm
be fatal. side effects may include unpleasant taste, headache, dizziness and morning drowsiness. ask your doctor if lunesta is right for you. then find out how to get lunesta for as low as $15 at lunesta.com there's a land of restful sleep, we can help you go there, on the wings of lunesta.
1:01pm
>> shepard: break news out of brooklyn, new york, a report of a partial building collapse. it's a construction zone in a private home. this is in brooklyn, east 95th 95th street and avenue d. it was undergoing some sort of work. one worker was pull out of the debris and all the other workers on scene are accounted for, but the search continues. this is video from a few minutes ago from our good friends at fox 5 new york. updates on this throughout the afternoon, and much more on the baby who was shot as someone
1:02pm
tried to rob the mother. we're expect agnus conference moments from now. update throughout the afternoon. final bell ringi oll street and all the losses yesterday are made back up. the dow back over 14,500 points. so when they tell you everything is awful, tell them, no, it really isn't. >> neil: this just in. we're just days away from the coldest march in 17 years. so much for spring. so much for climate change, and apparently so much for this. >> this is the single warmest winter in a decade in america. >> depending on where you live they're already a name for what we're experiencing this winter. they callite june-uary. >> the fourth warmest winter. >> second warmest winter on record ever. >> then this winter.
1:03pm
we're not frying. we're freezing. so cold. that now they're calling for punxsutawney phil's head for messing up the forecast. not really. this winter that is supposed to be over is now one for the record books. it's not the hottest ever. more like one of the coldest ever. so, joe, what's going on here? >> well, especially in europe, we're seeing some things in europe that are almost from the victorian era. the coldest birth in 100 -- in 100 years, and they're having one of the coldest marches on record and we're having the coldest march in much of the united states from the plains eastward since 1996. we told a lot of our clients this was going to happen, and you better get idea to this. marches tend to be cold when
1:04pm
we're in the climate cycle we're in. winters start slow and the end february and march, and that's what you're seeing this year. >> neil: we talked about view a collective thought in the media when covering weather-related issues, and these are headlines over the last year about whether it's global warming and winter is getting warmer and spring turning into summer, and summer turning into lava. how did we get this so wrong? >> well, we didn't get it wrong. my company put out a forecast at the end of february for one of the coldest marches on record. in fact i mailed it in, february 26th. since 1996. but a lot of folks are lulled hen they talk globalf security warming, why don't we talk globally? last year we had the warmest march on record. but the united states is only
1:05pm
one and a half percent of the globe and a lot of the rest of the globe were freezing. in the southern hemisphere the highs is so above normal. the total highs is above normal. nobody tells you these things so what happens is a low-incomes public wants to see the last thing in front of them and they're not paying attention, and i'll tell you what, it's a lot tougher to heat surfaces and heat houses and heat businesses than it is to cool them off, and if we don't watch out with the energy policy in the country and what some of us believe will happen 20-30 years down the road, we'll be in a heap of trouble. >> neil: you mentioned where this is in the case in the far east and these are the areas that play the least attention to co2 levels, pollution is crazy and you argue the threat to the environment or whatever climate change, would be most acute. that does not appear to be the case.
1:06pm
>> well, i think that the folks over there have common sense. they understand that one/400th n't of the greenhouse gases and man puts in 1% of that so we contribute 1/8,000 new mexico of as far as co2, and the fact the oceans have a thousand times the heat capacity of the air, and the speaker action between the -- interaction between the ocean and air drive the climate, plus the sun. so they say you keep doing that over there and we'll just keep doing what we are doing and they good on their merry way. i do know because i forecast globally i have to make forecasts every day in china, for instance. we have company that de-ices airplanes, and you're acutely aware of what the weather is doing globally as opposed to weather voyeurs who say, it's very warm today. then they hide until the next time they can point out it's
1:07pm
word. >> neil: thank you very much. guess what. old man winter ain't done. another storm expected to hit this weekend. say it ant snow. >> it is. it is for a lot of people. a lot of people need it. we had such a dry summer and the drought has been gripping across the areas of the central plain. they need more snow. so we have some areas that need it. looking at the weather map, the cold air is in place. so when a storm comes and the cold air us in place, you'll see snow. so you take a look, there's the 36 in rapid city and 32 in montana. that's the cold air going to diving down with the storm. move forward and you can see temperatures so far below where we should be this time of year, but the cold air is there. and look at what this storm does. it guess going over the rockiess and denver tomorrowman will see the snow flying strongly,
1:08pm
probably get 10 inches of snow. then across the area of eastern colorado, kansas, nebraska, the farm country that desperately needs the moisture. they're going to get it. going to mouth in to missouri and illinois, and there's going to be a good swath seeing five to eight inches of snow, in the kansas city area, between i-80 and i-70, and then sunday into monday, moves in across much of illinois and indiana, which has not seen a ton of snow but they're going to get a good swath of snow. after that i got to tell you, at the temps remain cool. take a look at your temps tomorrow. that cold day in denver, only getting to 24. look at what happens over the next four or five days. the cold air is in place across in the norway tier of the country. and that's the dividing lean between colder and warmer air, and much of the northern plane
1:09pm
plane -- plains and northeast, we're going to stay cool. no signs of spring for us. >> neil: thank you very much. you think it's next to impossible for a bad guy to get through airport security in what about the guy who got right into a plane's cockpit? we know what happened the last time cockpits were breached. rudy giuliani here to ask why aren't we worried it happened again? ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average.
1:10pm
t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. it's delicious. so now we've turned her toffee into a business.
1:11pm
my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. and make your business dream a reality. michael, tell us why you used to book this fabulous hotel? well you can see if the hotel is pet friendly before you book it, and i got a great deal without bidding. and where's your furry friend? oh, i don't have a cat. now you can save up to 50% during priceline's spring hotel sale use promo code spring for additional savings on all express deals, including pet friendly hotels. express deals. priceline savings without the bidding.
1:12pm
>> neil: hear the one about the fake pilot who gets into a plane's cockpit? this isn't a movie and wasn't deounderstand to dicaprio. this was a real life fraud who managed to sneak into a real
1:13pm
plane's cockpit. forget about how the airport officials an presented this guy. how did they miss this guy and how things could have ended up very, very differently, let's say if this were-i don't know, an al qaeda guy. rudy giuliani is here to remind us, we have to be up on this stuff all the time. >> well, that's the reality of it. here we've done all this to secure airports and done incredible amount of work, i think good work, all of this screening that's done and the rules with regard to the cockpit, and you have a guy debt. >> neil: used fake i.d., a pilot shirt. looked like the real mccoy. >> you'd think we could stop this 100%. the point president bush made is we have to be 100% in telling with these things, otherwise we can have a horrible incident, and it's impossible to be hundred% in anything.
1:14pm
impossible to be 100% secure. airplanes are 99.5% secure. but things like this can happen, which gives you a sense that there's something out there and when people get annoyed at delays in the airport and having to be searched, have a little patience. it's still there. and these people have an unusual fascination with airplanes. >> neil: why? >> think how easy to bomb smaller targets. a shopping center, a building or this or that. somehow it's going back to the beginning of islamic terrorism, since the '60s, plane hijacking, plane explosions, locker by. this is their attack of choice. >> neil: have we forgotten that? the attend of home lean security let the saudis decide on who
1:15pm
gets here and who doesn't. and most of the 9/11 hijackers were saudi. >> we may have losted a little bit of our obsessiveness about it because it's been a while, and we have a good system in place, but that system can't be 100% equicktive, which that's situation shows. >> neil: do you think in the case of saudis policing their own and who they give security clearance to and the rest, knowing that so many of the attackers in 9/11 were of saudi origin, does that make you uncomfortable? >> sure. i don't know the details how much due diligence was done to make certain that the right people and the right systems and they can't be infiltrated. the saud diz don't want this kind of attack. the saudis are more concerned about terrorism than anybody in the middle east. so in that sense they're a pretty good gamble. but -- >> neil: you hope all the
1:16pm
authorities in place are on the same page. >> inside saudi arabia there are also the extremists. so it makes me nervous and i hope this was well-considered and i hope we have some checks and balances. >> neil: i know i sound like i'm sticking with a bone here on this issue, what happened with this guy. but if that had been a bad guy, and he had made it to the cockpit, he could have slammed the door behind him, and he could have piloted that jet to god knows how. how quickly would thats have been able to stop it? >> i don't know if they would have stopped him. the choice of taking a plane town, when you have innocent people -- dick cheney had to face that choice when i was running around lower manhattan. dick cheney was sitting in the white house, trying to figure out do we take planes snout there were seven or eight planes --
1:17pm
>> neil: the possession was we would. >> yeah. but you don't want to have to make that choice, because suppose you make it wrong and then crew just called 200 innocent people. even if you make it right you killed 200 -- they're probably going to die anyway. >> neil: homeland security has been pointing out we have to get rid of agents, you're going to be waiting longer. >> haven't we figure out that's a total fraud? nothing serious hag to change? >> neil: what about the layoffs, haven't happened yet it in threat is they will. >> this was a reduction and increase. at most it should affect -- they can't hire more people. if i'm spending x amount of money on my operation right now, and next year i'm going to spend more money on my operations but a little less than the amount thought, don't have to -- >> neil: draconian -- >> don't have to get rid of the
1:18pm
people i have. maybe i can't hire as many people as i was planning to next year. so somebody has to explain this. this is a cut in an increase. it's not a cut in the baseline of the budget. so, the baseline, shouldn't have to lay off anybody. what you have to look at is, you expected x amount, you're actually getting x next year, but it should not affect ongoing operations. if it is, and i was the mayor or the president, i would have a new director of homeland security. >> neil: wow. good seeing you again there been your eyes in the skies, not quite. while everyone is else scaring the you know what out of us over the closure of air control towers, find out where those towers are. then on the way up. the nation's largest health insurers has warned that premiums could more than double. that's if the new healthcare law
1:19pm
kicks in. we told you this would be a mess and now we're going to make you sick when we show you how much.
1:20pm
1:21pm
1:22pm
the next time someone tells you inflation is not a problem. grab ahold of your new healthcare premiums' shove it in their face. might make them sick. health insurance premiums are about to double, on top of increases that have become the norm. michael tapper says it's hitting hard and fast. and it's going to keep hitting? >> that's right. we saw about 11 to 18% increases last year. and now insurance companies are predicting even bigger increases for the coming years.
1:23pm
>> neil:art of this is simply coming out of the recession. during the recession premiums were kept artificially low. you see part of that from that. part is also due to the patient protection and affordable care act, obamacare, that increased the number of benefits covered by small group and individual plans and going to provide more comprehensive insurance. that's more expensive. >> neil: i guess this shouldn't surprise me but you make a lot of promises and demand coverage for preexisting conditions and everything else, costs are going up but i don't think it was ever billed when this was being bandied about as going up as mother as they're going up. did someone miss something? hide something? forget something? >> it's true we were once promised we would reduce insurance premiums by 2500 tuesday per person. we don't seem to be seeing that. in fact we have seen increases
1:24pm
every year and we are going to see big increases in the future. those people are going to be hurt most are young, healthy people who will see their premiums increase substantially. older and sicker people will see a smaller increase. a small group in individual markets are going to go through the roof. large businesses might see slower growth. >> neil: the argument is this will all settle down, calm down, the increases will stop and we'll be grateful. what say you? >> i think you're seeing a balloon increase right now because insurance companies can't predict in the future with the changes what's going to happen. so their front-end loading their increases a little bit. i don't see any decrease. i think if you're going to prevent insurance companies from risk rating or managing risk in the market they have to cover people who are in effect already sick and very costly, they're going to pass those costs on to the consumer.
1:25pm
>> neil: michael tanner, the cato institute. it's amazing. but we're not going leave you stranded. before you stick a sir fling your high, health is on the way. dr. mark siegel with some hannity ideas to keep your rem from down. it's about understanding what kind of policy and hey you can take advantage of it. >> absolutely. as michael turner was saying the premiums are going to soar and one reason is that obamacare will limit your deductibles and coe pais, meaning you can't hive deductible policy, so i'm telling people get those policies now. if you're healthy and don't need to use your insurance -- there's a myth that people use it every day but it's for a rainy day. if you're healthy or young, i say get a policy with a high detectable, pay a lower premium
1:26pm
and hopefully you can hang on to that policy. >> you talk about health savings accounts, they have a tack advantage, taked a van of it. >> obamacare will limit that to $2,500 which i don't like, but a lot of people that have them are not using them properly now. so, i say use that $2,500 properly. it's a tax break. you should use it for what i call nonessential services. if you're not sick, figure out in advance, what can i use it for? >> neil: prescription -- >> prescription, trips to the doctor when you're not sick. when you're going into the hospital you want your health insurance to kick in. if not, you can use our flex spending account. >> neil: a lot of is just common sense, talking to your doctor. >> you'd be surprised how many people don't. ask your doctor, are you going to take obamacare insurance? medicare and medicaid? half the doctors in the country
1:27pm
are not taking medicaid. >> i notice a lot of your colleagues are not dealing with insurance, give you the bill and pay in cash. and. >> you can have a negotiation before you could in. doc, your bill says $400 but maybe you'll see me for 200. doctors love cash. >> neil: what if they cut back on the care? i've never done this with my doctor before. cheap skate, you're going to get half the quality. >> that's the wrong doctor. you don't want to -- >> neil: my doctor's name is -- bombastic. you say take advantage of the incentive plans out there. >> real preventive care is not what obamacare says it is. it occurs by getting your blood pressure down before getting sick. getting your weight off before you have an obesity related problem. learning to exercise. all of that, and stopping smoking. all of that can be done also by the employer, who may give you a
1:28pm
little extra in for your paycheck, some is written into obamacare. not enough. i like employers getting incentives to employees who do somethings like stopping smoking and exercising. >> neil: a lot of companies don't distinguish. if you don't have that, what too you do? >> well, some companies are starting to distinguish and they should start to distinguish. smoking is number one on the list, and then weight loss. you don't have to rely on your employer for that. i'm telling people to do it on their own. you'll feel better and save on medical costs. >> neil: surely you don't -- >> stop heating -- >> neil: just trying to get you to bend. just a doughnut. let me ask you about this -- doctors are seeing multiple patients at the same time. i know that saves -- i had the image of a bunch of people undressed in a room together.
1:29pm
all say it hurts me here put you're seeing a lot of crazy stuff like this. >> a good surgeon will tell you they don't want to be operating in two rooms at once, and the same is true with a nonperson. unfortunately we are going with a team approach, more nurses and staff making the phone calls for you. secretaries delivering the beside news as well as the good. >> neil: a secretary will tell you have terminal cancer? >> let's hope not. but it can be bad. i'm totally against the idea of a physician seeing more than one patient at the same time. i want to be clear. your physician has to stay involved. physicians remember why they went into this. no matter how much their cut, if they're saying they can't afford to be in practice, they shouldn't be. you cannot see two patients at the same time. >> neil: all right. doctor, good seeing you, we have some dessert for you when you leave. >> thanks, neil. >> neil: remember the long lines at airports that never
1:30pm
materialized from the cuts. now the faa is closing towers. hough is this going to flow? the truth? at allstate, you could pay zero. allstate gives you a hundred dollars off your deductible the day you sign up. then another hundred off every year you don't have an accident. let the good hands reward your safe driving with a deductible that goes away. ♪ deductible rewards. one more way you're in good hands with allstate. ♪
1:31pm
1:32pm
hi. i got a call today that you guys found my suitcase. we don't have it. you don't even know my name. [ sniffs ] are you wearing my sweater? [ male announcer ] good thing she hasn't noticed his pants. ♪ gain fireworks boosts the amazing scent for up to 12 weeks. ♪ [ sniffs ] ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above.
1:33pm
we're not simply saluting history... we're making it. >> neil: this just in. 149 control towers are going to be shutting down across the country. most are at small and mid-sized airports. the faa is blaming the budget cuts but an industry insider is
1:34pm
not. the argument these cuts had to come, a number of these towers were slated to close anyway. some were taken off the list and new ones added. bottom line, how is it going to affect us? >> well, it's not going to affect the passengers on a commercial flight. nat going to affect the regular fare paying passenger. there are 513 control towers in the country and 250 contract towers. the reason they're contract tower is because they're very low activity towers towers and a contractor could run. the contractors ran the tower at one-fourth the cost of an faa tower and had far less mistakes. these are towers the inspector general and myself said there's not enough activity to justify it. low activity, should be closed or farmed out to contractors. so this has been known for 15
1:35pm
years. >> neil: i'm sorry. just get that point across. the airports to which those towers are a part, they are effectively closed, then, or no? >> oh, no. no. no. you can fly -- one of them on the list, ohio state university, wonderful airport, wonderful tower, bit -- about it's all private aviation. that's where i today my private and commercial training. but you don't have passenger service and you approach, make your landing or your takeoff, there's a traffic pattern that you follow. you announce your position on the radio. by the way, if you're flying at night. you click your mic three times and the lights turn on. host of the towers will have hours reduced. passenger airlines -- by the way, 70% of the air traffic in this country uses only 30 airports. 70%, 30 airports. 40% use ten airports and there
1:36pm
are 513 air traffic control towers. so we obviously have a lot we can spare. >> neil: the question is whether sequestration is the reason, and this came out of the blue. i know this study was going on for a while, recommendations to look at where there might be overlap honor underutilized facilities. now thissing being tied with sequestration and you would think, there goes air travel. how bad is this? >> this i scare tactics. there are other ways to maneuver it. the secretary of transportation's own press release said we locked at cutting contracts. they spend billions a year on advertising and they didn't cut those contracts. instead the threaten long lines and closing towers and this has
1:37pm
been a hot-button issue since wilbur and oroville. and they refused to require share on pay -- in other words, you can have towers and they require communities to share in the expense 0, they raise the fee and put it more into the trust fund to generate more funds from the user to use the system and that has gone nowhere for 20 years. so this problem has been brewing since the dc-3 was out there putting around so much this is a problem they've known about for a long time in terms of how to fun these massive facilities -- aviation was founded on the idea that users pay. it's not fair to tax a family of four in peoria to pay for people like me, who like to fly around as general aviation and that's a very old argument. >> neil: thank you very much. good seeing you. >> thank you. >> neil: this just in. america's golden era of space is now up for sale.
1:38pm
we bid. you decide. fidelity is there for your personal economy, helping you readjust your retirement plan along the way. rethink how you're invested. wherever you are today, a fidelity ira has a wide range of investment choices to help you fine-tune your personal economy. call today and we'll make it easy to move that old 401(k) to a fidelity no-fee ira. at od, whatever business you're in, that's the business we're in with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business.
1:39pm
od. helping the world keep promises. every signature is unique, and every fingerprint unrepeatable. at sleep number, we know that up there with your social security number and your phone number is another important number. your sleep number. so we created the extraordinarily comfortable sleep number experience, designed around a bed with dualair technology that allows you to adjust to the support your body needs each of your bodies. it begins every time one of our sleep professionals rejects the notion of the mass-produced human, and helps another person find their sleep number settin. you will only find sleep number at one of our over 400 stores nationwide. where right now enjoy the lowest prices of the season on our most popular bed sets. plus special financing on all beds. final days! sleep number.
1:40pm
comfort individualized.
1:41pm
>> as far as auctioning it off, you ct. >> not going to do that whether i was allowed to or not. i didn't realize how significant the little check lift was and now i'd rather have it displayed in a museum -- >> neil: he might get his chance. former astronaut jimmy lovell may not be auctioning off his space treasures but you can own a piece of american space history. some of the most iconic symboling gore up for sale, things like neil armstrong's flight plan, and apollo xiii's contingency check lift. that's right. it is an unusual auction where so much is up for grabs, and you
1:42pm
can grab it if you have the money. david lee miller says there's a lot of stuff you'll have to pay big money for. david? >> for the first time since congress passed legislation last september allowing the government to sell space memorabilia, a major auction is now taking place. next monday, 250 space artifacts are going to be up for bids. there are space suits, gloves, photos, emblems, flags, and items valued ate a few hundred dollars, some 100,000, remember when tom hanks played jimmy lovell and counted by hand? you can now bid on page of those hand written notes, although invaluable to the crew whose lives they safe they have an estimated worth of between 50 and $90,000, and also up for bid dehydrated potato soup from the
1:43pm
vision. one of most expensive items, the space magna carta. the document signed by u.s. and uss astronauts, symboling the symbolic end of the space race. >> and looking at something that might beatle less pricey, there's a baseball hat from the recovery crew of apollo 15. the amount is $500. >> neil: how many do they expect to participate in this? obviously given the 40th 40th anniversary of apollo 17, last flight to the moon, but who are the folks, how many of the folks who are going out for the auction and bid? >> they didn't have a number they expect to participate but they did say there's growing interest in space enemy more biehla. they're not making it miami, and is what mark twain said about land.
1:44pm
the feeling at the auction house is it's probably a pretty good investment. something like apple stock, it's gone down. well, some of these memorabilia items have increased in value and they say they expect it's going to happen, especially now that congress passed this law and there's no more ambiguity about who owns things. >> neil: amazing. david lee, thank you very-very much. well, chock-full of hope. the gang of eight is very close to reaching a deal on immigration reform and it will hinge on a secure border that the senator promises will be included. but maybe that might be a good promise. byron york says it's not papping out. >> it's really complicated. obviously immigration reform does depend on the certification that the border is secure in how do you measure that? in the past the government used a concept called operational control of the border.
1:45pm
they estimate how many miles of the border the government has control of. but the obama administration threw that concept out. janet napolitano said it was archaic. they're coming up with a new super-duper measurement called bci, border condition index, and they've been working on it three years, and congress asked them, how is it going we have to have a measure of border security. is it ready yet? and the department of homeland security official said, no, it's not ready, and by the way, it won't measure border security. never was intended to. it just left lawmakers, both democrats and republicans, just stunned at the hearing on wednesday and now they don't know exactly how they're going to certify the border to be secure. >> neil: that a big problem because really, contingent with getting a lot of conservative republicans in particular toward reforming immigration and providing however you want to describe it, an ultimate pathway
1:46pm
to citizenship for the millioned of illegals here, a lot of them will swallow it if they have a sense they're going to tight 'down and secure the border, and promises are not good new york especially in light of developments like this where it's apparently not even quantifiable or measurable. >> they're not even working on it apparently. the thing that is interesting about the border security subcommittee, not only were republicans upset the homeland security had not come up with any measure, even democrats, who don't want to tie immigrant reform to border security, they were upset, too. sheila jackson lee, very liberal democrat, said to dsh, you got to get in the game and give us some concrete information about bored security. this could be really, really big. you're absolutely right. eave republican who supports comprehensive immigration reform does it only because they say it will come after the border is
1:47pm
secure. >> neil: a lot of the same republicans, they say that was the one thing ronald reagan gave away when he liberalized a lot of policies on this and effectively allowed illegal immigrants to stay here. he didn't get the other part of the bargain he thought he had made and that was to tight 'security. this could be a real mess. >> the bottom line really about immigration reform is congress can pass it, but it depends on the executive branch to enforce it. so i think what we saw in this hearing this week is that republicans are becoming increasingly worried the department of homeland security doesn't really want tone force -- to enforce it and it's going to give them pause before the vote. >> neil: this whole healthcare debate that is kicking up approaching the third anniversary of the health care law, news that premiums are doubling, on top of double-diagnose increased that have become in the norm.
1:48pm
we can remember it was billed -- we were told things would terriblize, premiums would go down. that might still happen. but it isn't happening now. how serious is this getting? >> could be very serious. you could be talking about premiums that actually double, and something that sets off an alarm, officials for the obama administration who is in charge of setting up these exchanges across the country, said they might not be ready in time. they have to be ready by october 1st, and said they're working on plan b to avoid people facing what he called a third-world system. confused, ineffective. messy system. so, there are signs that the obama administration is beginning to get a little worried about how this is actually going to work. it's not a year away. it's october 1st for the exchanges. >> neil: is it risky for the president to be among the first to sign up for this deal?
1:49pm
>> well, i tell you, the obama administering is going to -- when it becomes a reality, they're really going to push very hard to make sure that they are people who are helped they can point to. >> neil: that would include him. he'll sign up and become the first patient. >> totally symbolic. the president has to have the pest health care of the country. but the thing is these exchanges -- the obama administration is going to definitely work hard to give you examples of people who are uninsured or had preexisting conditions, and are now insured and subsidized under the new system that's going to be very important for their public relations evident when obamacare becomes a reality. >> neil: someone is going to be wrong in 2014. republicans are salivating at the night that it's splintering and deinvolving under them.
1:50pm
the famous mitch mcconnell showing all the regulations on the original 2500 page law, i think it was in excess of 12,000 pages. but democrats, we're told, are embracing obamacare, saying certainly by 2014 the good will be obvious, the bad will be distant, and they well be off to the races. some will be very wrong. who? >> i think it's going to be a very difficult transition, and i think it's going to increasingly hear from democrats who want to fix some or another part of obamacare. if it looks like premiums are going up a lot they'll crack down on insurance companies and blame them. republicans may not want to go along with that. they didn't vote for it. want to repeal the whole thing. now we saw in the senate a vote of 79-20 to get rid of the medical device tax. it's not a binding vote. it was on bought resolution but 79 senators, and that includes
1:51pm
more than 30 democrats -- want to get rid of this task that's really a key part of obamacare. >> if you get rid of that tax, going to raise a lot of serious change for this. you're beginning to get a little dustup over the medicare surtax that people pay,; when the reality of this hits and they start removing some of these features, how too you pay for it? >> you don't. at it going to increase -- republicans have been arguing that all along. they said, look, you cannot insure 30 million plus currently uninsured people and save money in the process. just can't do it. obama administration claimed that you could. we'll definitely test that prospect coming up. >> neil: we will. thank you very much. sorry to hit you with so much. meanwhile, this just in. a very tiny island nation that
1:52pm
could be on the verge of becoming a tsunami. bangkok. because apparently riding the dog like it's a small horse is frowned upon in this establishment! luckily though, ya know, i conceal this bad boy underneath my blanket just so i can get on e-trade. check my investment portfolio, research stocks... wait, why are you taking... oh, i see...solitary. just a man and his thoughts. and a smartphone... with an e-trade app. ♪ nobody knows... [ male announcer ] e-trade. investing unleashed.
1:53pm
.. been waiting for the price of mattresses to fall? then hurry, sleep train's beautyrest and posturepedic closeout sale ends sunday. save up to 40% on closeout sets from beautyrest and posturepedic. save hundreds on floor samples and closeout inventory. these prices are falling fast, but these deals won't last. sleep train's beautyrest and posturepedic closeout sale ends sunday. superior service, best selection, lowest price, guaranteed. ♪ sleep train ♪ your ticket to a better night's sleep ♪
1:54pm
1:55pm
you want to keep a close eye on this, national not being able to get your money for more than a week. banks shut. that is cyprus now to greg on the banking collapse. they're desperately trying to avoid. what's the latest? reporter: i'm standing in front of what has become a symbol of this. a cash machine, an atm. actually was spitting out a little bit of money tonight, neil, but we talked to one guy who went to 20 atms today and couldn't find any cash. meanwhile, just a couple blocks from where we're standing is the
1:56pm
parliament and they're working tonight on trying to come up with plan b of the bailout effort to try to get the eu to cough up more money so they can avoid bankruptcy. developments just in the last half hour, neil, we've learned they have approved what is called a solidarity fund, which includes selling off some greek -- some bank branches in greece as well as three mortgage and church assets. more controversy, also approved, controls on financial transactions. this is being looked at very hard. might even change the nature of the euro on this island. off the table is another controversy plan to nationalize the state pension fund here, basically to dip into their retirement fund. but we're told back on the table, another controversial approach, and that is, dipping into the private bank accounts of cypriots. we're told it will be only
1:57pm
$130,000 or more but could be as much as 10 or 15% to try to pay for this bailout. the folks outside parliament, we're talking with them. they're very angry, they're protesting now, but again, the last word we're getting is, if this plan b can be assembled, and the cypriot residents and other officials will go to brussels, hat in hand, maybe as early as tomorrow and meet with eu officials. the deadline is monday for them to come up with a plan for the eu will pull the plug on this place. and that will be bad news for cyprus, troubling news for the euro zone and maybe our market. >> neil: let's say the banks re-open on tuesday and you can start taking money out, al need limited ways. if you're a cypriot resident, you're going to want to get that money out asaphia as you can because you're nervous, right? how too they avoid a bank run?
1:58pm
>> absolutely. if talked to cypriots here and they say exactly that. listen, when these bank doors open we're going to go in there and try to get our money out, and that's what these controls are all about. tried to limit that outflow but again, neil, you're very savvy with this kind of stuff. what people are saying tonight is that if they start doing that with the euro on this island nation, then it changes the whole nature of the euro. it could happen maybe in italy or maybe in spain. just like tapping into the private bank accounts. so, yes, it's a small, tiny nation, but big, big impact, big repercussions possible, neil. >> neil: greg, thank you very much. that's something we're going to be focusing on tonight on fcn, and the reason why our stocks were up today. the u.s. is benefiting by default from a lot of this because we're seeing the have 'in the storm, actually if you look at the economies of the
1:59pm
world we're more like the tallest pig -- pygmy on earth but you take your advantages where you can find them but there's concern when the banks open they're going to take the money and run. the government is doing everything in its power to avoid that. tonight at 8:00 we're going to discuss, it might not be enough. . with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine. all stations come over to mithis is for real this time. step seven point two one two. . command is locked.

Terms of Use (10 Mar 2001)